What is a cryptocurrency? A: Cryptocurrency is an internet-based exchange medium that uses cryptographic functions to perform financial transactions. Cryptocurrencies use blockchain technology to achieve decentralization, transparency and immutability. How is cryptocurrency sent and received? A: Cryptocurrencies can be sent directly between two parties via the use of private and public keys. These transfers can be done with minimal processing costs so that users can avoid the high costs charged by traditional financial institutions. What is the first cryptocurrency? The first cryptocurrency ever made is Bitcoin. What is cryptocurrency mining? A: Cryptocurrency Mining is when a computer is used to solve cryptographic puzzles to build blocks. Miners are rewarded with the cryptocurrency.
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